Sensor Market Overview:

Global Sensor Market is expected to garner $241 billion by 2022, registering a CAGR of 11.3 % during the forecast period 2016 - 2022.

Sensor is a device that detects physical input such as light, heat, motion, moisture, pressure, or any other entity, and responds by producing an output on a display or transmits the information in electronic form for further processing. The sensors find their applications various industries such as electronics, IT & telecommunication, automotive and healthcare among others.

In the current scenario, smart grid, smart homes, smart water networks, intelligent transportation are infrastructure systems that connect our world are trending. These systems are assembled through the use of sensors, and the entire physical infrastructure is closely coupled with information and communication technologies. Intelligent monitoring and management can be achieved via the usage of networked embedded systems, in which devices are interconnected to transmit useful measurement information and control instructions via distributed sensor networks.

The demand for sensors is globally expected to rise during the forecast period due to growing trend of internet of things (IoT) , advancement in consumer electronic products, increasing usage of sensors in smartphones, and robust demand in automation industry. Moreover, surge in the automotive sector and growing demand of wearable devices open opportunities in the market. However, incorporating the sensors in devices incurs extra value and reduces life of device, which act as a restraint for the market.

Factors impacting sensor market

The demand for sensors is expected to surge due to heavy investments on the R&D by many key players, including STMicroelectronics, Qualcomm Technologies, Inc., Sony Corporation, and others, leading to the improvement in sensing quality and efficiency. For instance, in October 2016, STMicroelectronics and HMicro together launched a single-chip product HC1100 for clinical-grade, disposable smart patches and biosensors. These smart patches and biosensors are especially designed for wired wearable devices such as vital sign monitoring and electrocardiogram. The growing need of these devices are anticipated to fuel up the demand in overall sensor market.

Segment Review

The market is segmented on the basis of sensor type, technology, industry vertical, and geography.

Based ontype, the market is divided into radar sensor, optical sensor, biosensors, touch sensor, image sensor, pressure sensor, temperature sensor, proximity sensor and displacement sensor, level sensor, motion and position sensor, humidity sensor, accelerometer and speed sensor, and others. On the basis of technology, the market comprises complementary metal&dash;oxide&dash;semiconductor (CMOS), microelectromechanical systems (MEMS), nanoelectromechanical systems (NEMS), and others. Furthermore, the market is categorized on the basis of industry vertical, which includes consumer electronics, IT & telecommunication, industrial, automotive, aerospace & defense, healthcare, and others. The market is analyzed on the basis of four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.

Value chain analysis

Advancement In Sensors And Their Increasing Usage In Smartphones

Smartphone majorly incorporates sensors such as accelerometer, gyroscope, ambient light sensor, proximity sensor, temperature detector, and others to keep a track on parameters and provide a centralized system for automatic control. The smartphone manufacturing companies have increased the number of sensors in their devices to enhance the overall user interface experience, dominating the market. For instance, in 2013, Apple became the first major U.S. carrier to introduce touch ID in their phones (e.g., iPhone 5S). Ever since then, most of the smartphone manufacturers have followed the trail which includes mega companies such as Samsung, LG, Asus, and others. Furthermore, in 2016, Google launched a smartphone named Pixel with Sony IMX378 sensor in camera, which Google claims to have best ever camera in the history of smartphones. This has created tremor in smartphone industry, and leading players are anticipated to upgrade their image sensors. All these factors are currently fostering the growth and are envisaged to create new opportunities, henceforth the demand in the market is anticipated to boost in the next five to six years.

Top winning strategies: nature and type

The key players of the world sensor market are employing novel concepts and ideas, improving manufacturing techniques, and improving the current set of products, besides enhancing their profitability to gain a competitive edge over the other market players.

KEY BENEFITS

Comprehensive analysis of the current and future trends in the world sensor market are provided.

The report offers a competitive scenario of the market and elucidates on the growth trends, driving factors, scope, opportunities, and challenges.

The report includes a comprehensive analysis of the key segments to provide insights on the market dynamics.

Porter’s Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making.

Value chain analysis provides key inputs on the role of stakeholders involved at various stages.

Sensor Market Key Segmentation

The market is segmented on the basis of type, technology, industry vertical, and geography.

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